Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Average Rating of “Reduce” from Analysts

Shares of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) have earned an average rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $1.40.

Several equities analysts have recently weighed in on DNA shares. William Blair cut Ginkgo Bioworks from a “market perform” rating to an “underperform” rating in a report on Friday, May 10th. The Goldman Sachs Group cut their price objective on Ginkgo Bioworks from $0.80 to $0.30 and set a “sell” rating for the company in a report on Tuesday, July 9th. Morgan Stanley lowered their target price on shares of Ginkgo Bioworks from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Finally, BTIG Research decreased their price objective on shares of Ginkgo Bioworks from $0.50 to $0.20 and set a “sell” rating for the company in a research report on Wednesday, June 26th.

Ginkgo Bioworks Price Performance

DNA opened at $0.31 on Monday. The company has a market capitalization of $695.45 million, a price-to-earnings ratio of -0.64 and a beta of 1.14. The business’s 50-day moving average price is $0.41 and its two-hundred day moving average price is $0.87. Ginkgo Bioworks has a 1 year low of $0.26 and a 1 year high of $2.47.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative net margin of 409.11% and a negative return on equity of 56.09%. The company had revenue of $37.94 million during the quarter, compared to analysts’ expectations of $45.50 million. During the same period last year, the business earned ($0.08) EPS. Sell-side analysts anticipate that Ginkgo Bioworks will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Ginkgo Bioworks

In other news, Director Marijn E. Dekkers sold 265,000 shares of Ginkgo Bioworks stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $0.83, for a total transaction of $219,950.00. Following the completion of the sale, the director now owns 5,515,364 shares of the company’s stock, valued at $4,577,752.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Harry Sloan purchased 297,619 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $0.91 per share, for a total transaction of $270,833.29. Following the completion of the transaction, the director now owns 718,540 shares of the company’s stock, valued at $653,871.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marijn E. Dekkers sold 265,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $0.83, for a total transaction of $219,950.00. Following the sale, the director now owns 5,515,364 shares in the company, valued at $4,577,752.12. The disclosure for this sale can be found here. Insiders have sold a total of 291,960 shares of company stock valued at $231,804 in the last three months. 15.05% of the stock is currently owned by company insiders.

Institutional Trading of Ginkgo Bioworks

Several large investors have recently made changes to their positions in DNA. Pine Valley Investments Ltd Liability Co lifted its stake in Ginkgo Bioworks by 653.7% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 220,607 shares of the company’s stock valued at $74,000 after purchasing an additional 191,336 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Ginkgo Bioworks by 12.1% during the 1st quarter. Cetera Advisors LLC now owns 348,543 shares of the company’s stock valued at $404,000 after acquiring an additional 37,704 shares in the last quarter. Cetera Investment Advisers increased its holdings in Ginkgo Bioworks by 2,683.7% in the 1st quarter. Cetera Investment Advisers now owns 2,264,107 shares of the company’s stock worth $2,626,000 after purchasing an additional 2,182,773 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Ginkgo Bioworks during the first quarter valued at about $438,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ginkgo Bioworks in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.